Global Commercial Refrigeration Equipment Market

Commercial Refrigeration Equipment Market Size, Share, Growth Analysis, By Product Type (Refrigerators & Freezers, Display Showcases), By System Type, By Refrigerant Type, By Application, By Capacity, By Distribution Channel, By Region - Industry Forecast 2025-2032


Report ID: SQMIG20D2180 | Region: Global | Published Date: December, 2024
Pages: 165 | Tables: 120 | Figures: 77

Commercial Refrigeration Equipment Market Competitive Landscape

The key participants in the commercial refrigerator equipment industry have been compelled to introduce new and improved product offerings in order to effectively meet consumer demand as a result of the rising usage of sustainable technology equipment. For instance, In January 2022, Carrier Commercial Refrigeration installed their PowerCO2OL refrigeration system in Spain's COVID-19 vaccine storage facility.

The leading players are also focusing on implementing various strategic initiatives to expand their position in the market, such as capacity expansion, partnerships, mergers, and acquisitions. For instance, Whirlpool Corporation announced in November 2021 that it would invest more than US $65 million over the following few years in its factory located in Ottawa, Ohio, in an effort to establish the facility as the Premium Refrigeration Factory. The company will enlarge its Ottawa facility as part of this strategic drive to support the production of high-end refrigeration goods.

Top Player's Company Profiles:

  • Daikin 
  • Danfoss 
  • Gea Group 
  • Johnson Controls 
  • Bitzer 
  • Hillphoenix 
  • SCM Frigo S.P.A. 
  • Emerson Electric Company 
  • Carrier 
  • Henry Technologies 
  • Heartcraft Worldwide Refrigeration 
  • Panasonic Corporation 
  • Imbera 
  • Minus 40 
  • Metalfrio 
  • Excellence Industries 
  • Illinois Tool Works Inc. 
  • Baltimore Aircoil Company 
  • LG Electronics 
  • Carnot Refrigeration 

Commercial Refrigeration Equipment Market

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Commercial Refrigeration Equipment Market size was valued at USD 39.1 Billion in 2023 and is poised to grow from USD 41.09 Billion in 2024 to USD 55.91 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

The key participants in the commercial refrigerator equipment industry have been compelled to introduce new and improved product offerings in order to effectively meet consumer demand as a result of the rising usage of sustainable technology equipment. For instance, In January 2022, Carrier Commercial Refrigeration installed their PowerCO2OL refrigeration system in Spain's COVID-19 vaccine storage facility. 'Daikin ', 'Danfoss ', 'Gea Group ', 'Johnson Controls ', 'Bitzer ', 'Hillphoenix ', 'SCM Frigo S.P.A. ', 'Emerson Electric Company ', 'Carrier ', 'Henry Technologies ', 'Heartcraft Worldwide Refrigeration ', 'Panasonic Corporation ', 'Imbera ', 'Minus 40 ', 'Metalfrio ', 'Excellence Industries ', 'Illinois Tool Works Inc. ', 'Baltimore Aircoil Company ', 'LG Electronics ', 'Carnot Refrigeration '

Food and beverage sector generates the high annual revenue for the global GDP and ranking among the top industries across all regions. Through roughly 680,000 retail stores and food service outlets, the industry serves the clientele by converting the raw farm commodities produced by its over 2 million farms into consumer food products. This increases the rate of production and consumption as well as global sales of commercial refrigeration equipment.

Technological Advancements: The commercial refrigeration equipment has undergone significant technological advancements to offer novel services to the industry and consumers. With an increase in commercialization of food products, the need for technological advanced products have become the need of the hour.

North America is expected to hold a significant revenue share of more than 36% by 2030, having dominated the global commercial refrigeration equipment market in 2022. The developed U.S. retail market is largely responsible for the considerable rise. Numerous top producers of industrial refrigeration equipment such as Excellence Industries, Illinois Tool Works Inc., Lennox International Inc., True Manufacturing Co., Standex International Corporation are well represented in the region. Additionally, the early use of smart equipment in commercial kitchens is helping the local economy grow.

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Global Commercial Refrigeration Equipment Market

Report ID: SQMIG20D2180

$5,300
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